Thank you all for your replies!
dcg123-that definetely makes sence, and it wouldn't be wise to close your eyes to other ways of investment if they do arise, thanks for your advise!
loki005-do you know any of those sites off the top of your head by any chance? or are there quite a few as to where i could google it and come up with a few to choose from?..that is a great idea to find properties though, thank you for that.
Flipper - the reason why i am waiting at least 8 months to invest is because my partner and i are saving as of this sec and by the 8 month mark we will have 130K to utilize for investment purposes.
Wheatie- i definetly agree about having documents in writing, my partner and I are great friends and have been for years..we have actually discussed this and neither of us would partner up with eachother without something written out formally...better be safe than sorry and have a document to fall back on!